hotel unemployment
The Role of Unemployment Benefits in the Current Labor Shortage
Dr. Yong Chen | April 12, 2022
By Dr. Yong Chen An analysis of why and how Covid-related unemployment benefits may have impacted the current labor shortage. What role do loss aversion and behavioral economics play in how a worker considers losing benefits vs. gaining a job? Labor shortage despite available jobs As Covid-19 cases in the United States started subsiding in the first half of 2021, the economy did not recover as fast as had been expected. There have been widespread reports about labor shortages in the U.S. since last April. The reason for the rising unemployment though is anything but a lack of jobs. According to the U.S. Bure...
Leisure and Hospitality Still Biggest Unemployment Factor in New Jobs Report
U.S. Travel Association | March 7, 2022
WASHINGTON — March 7, 2022 — U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the Bureau of Labor Statistics’ February employment report, which confirms that 73% of the jobs lost are in Leisure & Hospitality (L&H): “The overall jobs report today may be good economic news for certain sectors, but nearly three quarters (73%) of all jobs still lost due to the pandemic are in Leisure & Hospitality (L&H). The sector’s uneven recovery is due to the lack of available workers, and revenues are down due to a lack of inbound internat...
Revised BLS Data Paints Darker Picture for Travel Industry Losses, Need for Additional Aid
U.S. Travel Association | February 8, 2022
WASHINGTON — February 8, 2022 — U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the Bureau of Labor Statistics’ January employment report, which also featured revised data for the past several months confirming that 10% of leisure and hospitality jobs now remain lost, accounting for an overall 61% of the job losses due to the pandemic: “While the overall jobs report today may be good news for some, the revised BLS data now confirms an even bigger revelation, that 61%, or nearly two-thirds, of all jobs still lost due to the pandemic are in t...
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